5 ideas to start a business in Portugal
An entrepreneur is always looking for good ideas to open a business in Portugal. At Lisboa Investments we have accompanied many of these entrepreneurs, helping them in the planning, evaluation, and acceleration of their business ideas.
This experience allows us to identify ideas that demonstrate, from the outset, an above average potential for success in Portugal, and it’s these business ideas that we share with you below.
1# Superfoods and biological supplements
The concern for well-being and good physical and mental performance increases from year to year. Both in our country and on a global scale. And with this increases the demand for a diet that positively influences this well-being.
Superfoods are at the forefront, often in the form of supplements. What happens is that although there is supply on the market for this product, this offer is based on non-organic or over-industrialized products.
If we are pointing to a niche market that values well-being and understands the importance of food sources or supplements it consumes, we must point to superfoods in the form of biological supplements.
And what do we have to do to leverage this business? An e-commerce platform combined with a digital marketing strategy that works as the basis for this business model.
2# Cosmetic and sustainable fashion
In the search for ideas to open a business in Portugal, we continue to look at the niche markets that value well-being and the environment.
Once again, the concern with the sustainability of what we consume is an advantage for those who want to launch a business in our country. The demand for more sustainable cosmetic solutions and fashion products that respect the environment continues to grow, and what is the best platform to launch such a business in our country? Again, e-commerce.
E-commerce allows you to establish a sales channel without the costs associated with a physical store. But there are inevitable costs such as minimal stock investment, digital marketing and the team (even if it’s just you at an early stage), but it can generate a higher return, all the more so if you decide to scale the business to other geographies and markets.
3# Virtual event organization
The organization of virtual events is not something that has arisen due to the pandemic. It is something that has achieved exponential success due to this situation.
But before that, virtual events were already a reality of markets like gaming. And after that, they became a reality of markets such as luxury, where virtual experiences took the place of physical events to demonstrate the exclusivity of a product. The luxury market is, moreover, one of the markets where we can verify the greatest impact of technologies and the organization of virtual events, as you can see in this article.
4# The Internet of Things applied to Tourism or Health
IoT is a set of technologies that is revolutionizing the way we interact with virtually everything around us. Smart homes, for example, are a clear example of IoT.
In our country, IoT reveals a special potential with possible applications for Tourism or Health.
In the hotel industry, IoT can reduce and simplify many processes. For example, you can make it possible to check in and enter a hotel room without any contact with someone else, using only your personal smartphone.
Regarding health sector, the sensors of IoT-linked technologies allow monitoring in real time and in greater detail the health of a patient, detecting much earlier any possible health problem.
5# Process automation through RPA
RPA stands for Robotic Process Automation. This technology allows to “train” a software so that it becomes able to perform with 100% effectiveness the function of a human collaborator. RPA is useful in functions that require monotonous, repetitive and bureaucratic tasks, allowing you to make these processes much faster and error-free. On the other hand, it also frees a company’s employees for more important tasks such as innovation and planning.
This was the last of the 5 ideas to open a business in Portugal that we share today with you. In the field of technologies, Machine Learning is also one with the greatest growth potential in our country, such as Big Data.
